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Bull&Bear | AppLovin Soars 46% Amid Strong Q3 Results; Digital Turbine Plummets 45%

AInvestThursday, Nov 7, 2024 5:00 pm ET
1min read

In the realm of bullish stocks, AppLovin (APP) witnessed a significant surge of 46.27%, marking its third consecutive day of gains. This impressive rally has resulted in a cumulative three-day increase of 54.94%. AppLovin's financial performance for the third quarter of 2024 surpassed expectations, with a net profit per share of $1.25, exceeding the anticipated $0.94. The company's sales also exceeded forecasts, reporting $1.198 billion against the predicted $1.131 billion. Subsequently, BTIG raised AppLovin's target stock price from $202.00 per share to $291.00 per share, maintaining a buy rating.

Destiny Tech100 (DXYZ) experienced a remarkable increase, climbing 39.71% over three consecutive days, with a three-day gain totaling 103.48%. The stock saw a temporary suspension due to its price surge of 42.35%.

SKK (SKK) saw a 36.55% rise, marking its fourth consecutive day of increases, with a cumulative four-day gain of 44.07%. This surge occurred following SKK's initial public offering on the NASDAQ, where the opening trade price exceeded the IPO price.

Faro Technologies (FARO) enjoyed a 36.48% increase, its stock consistently climbing for five days, totaling a 46.52% gain over this period. The rise followed the announcement of better-than-expected third-quarter financial results and the release of an upbeat adjusted earnings per share guidance for the fourth quarter.

Meanwhile, Wolverine Worldwide (WWW) gained 35.83%, with a consecutive two-day increase totaling 40.74%. This growth coincided with Chaco's launch of the new CushZ sandals, designed with lightweight comfort as a priority.

On the bearish side, Digital Turbine (APPS) faced a significant decline of 44.75%, continuing its downtrend for two days, resulting in a total two-day decrease of 44.92%. Macquarie maintained a neutral rating on Digital Turbine, reducing its target price to $2.

Wolfspeed (WOLF) experienced a sharp decline of 39.33%, driven by the announcement of substantial losses.

Dentsply Sirona Inc. (XRAY) saw its stock plummet by 28.02%. The company's third-quarter 2024 earnings conference revealed underperformance compared to expectations, sparking investor caution about its future challenges and strategic outlook, leading to a significant drop in its stock price.

CuriosityStream (CURI) witnessed a drop of 26.62% after reporting a third-quarter financial performance that fell short of expectations. Moreover, the company's fourth-quarter revenue guidance also came in below forecasts.

Clear Secure's stock closed lower following the announcement of lower-than-expected third-quarter earnings per share.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.